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Economics for Product Managers - It's not just for professors and bankers
 

Economics for Product Managers - It's not just for professors and bankers

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The role of business strategy is to drive the highest economic value out of your company’s resources. From your product strategy to the outbound marketing plan, economics should drive your strategic ...

The role of business strategy is to drive the highest economic value out of your company’s resources. From your product strategy to the outbound marketing plan, economics should drive your strategic decisions. This presentation explains how simple economics models can help rationalize your complex product management decisions.

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    Economics for Product Managers - It's not just for professors and bankers Economics for Product Managers - It's not just for professors and bankers Presentation Transcript

    • Economics for Product Managers: It’s Not Just for Professors and Bankers
      Mike Boudreaux
      Product Manager
      Emerson Process Management
    • “The question isn't what are we going to do. The question is what aren't we going to do." – Ferris Bueller
    • 3
      http://www.flickr.com/photos/livenature/4034863015/
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      http://en.wikipedia.org/wiki/Microeconomics
    • 5
      http://en.wikipedia.org/wiki/Home_economics
    • http://www.flickr.com/photos/trackrecord/54515014
    • 7
      http://www.flickr.com/photos/francesco_veronesi/3566479837
    • 8
      “A strategy is a plan of action designed to achieve a particular goal.” – Wikipedia
      http://www.flickr.com/photos/ollesvensson/4252196844
    • 9
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      “Strategy is making trade-offs in competing. The essence of strategy is choosing what not to do." – Michael Porter
      http://en.wikipedia.org/wiki/File:Southwest_Airlines_Cabin.jpg
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      http://www.flickr.com/photos/robie06/4394748067
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      http://www.flickr.com/photos/fotoosvanrobin/2545857883
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      Quality
      Size
      Time
      Cost
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      Secure
      Usable
      Cheap
    • 15
      Flexibility
      User Experience
      Ease of Use
      Number of Features
    • http://www.flickr.com/photos/pauldcocker/3003668632
    • 17
      http://www.flickr.com/photos/ableman/534155207
    • “It would appear, Hopkins, that your gut feel was only indigestion.”
      Source: Product Manager’s Desk Reference, Artist Timo Elliot
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      http://www.flickr.com/photos/acaben/541334636/
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      http://www.flickr.com/photos/adstream/1495683304
    • 24
      High value enhancement
      Breakthrough
      product
      Keep the
      lights on
      Waste of
      effort
    • 25
      Benefit (B)
      Value
      (B – C)
      Price
      (P)
      Cost(C)
    • 26
      Benefit (B)
      Price
      (P)
      Cost(C)
    • 27
      60%
      20%
      0%
      20%
    • 28
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    • Buyer
      Type
      Application
      Industry
      39
    • Buyer
      Type
      Application
      Industry
      40
    • Buyer
      Type
      Application
      Industry
      41
    • Buyer
      Type
      Application
      Industry
      42
    • Buyer
      Type
      Application
      Industry
      43
    • http://www.npd-solutions.com/serverppm.html
    • 45
      Used with permission from http://www.pragmaticmarketing.com/
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      http://www.flickr.com/photos/uggboy/4593866108
    • 48
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      http://en.wikipedia.org/wiki/Ideal_firm_size
    • 50
      Used with permission from http://www.pragmaticmarketing.com/